The association said that livestock's gross domestic product accounts for 30% of the GDP of the Brazilian agricultural sector, which, in turn, accounts for 21.5% of the country's GDP. In this respect, livestock's share in the Brazilian economy is 6.8%.

Arab countries are some of the main clients of Brazilian beef exporters. From January to July this year, Egypt ranked third among Brazil's largest markets, trailing only Hong Kong and the European Union. Saudi Arabia is in the 10th position.

"In contrast to the negative wave impacting the majority of the sectors of the Brazilian economy, agribusiness continues to grow, and beef's agro industrial system is one of the most dynamic of the sector", said Abiec president Antônio Jorge Camardelli in a statement.